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Nonprofiteer
← BELOVED COMMUNITY INCUBATOR INC

Form 990 for tax year 2022

Filed by BELOVED COMMUNITY INCUBATOR INC.

Totals

Total revenue
$886,288
Total expenses
$815,261
Contributions and grants received
$883,033
Grants paid
$25,569
Program service revenue
$1,600
Investment income
$141
Other revenue
$1,514
Total assets, end of year
$209,700
Total liabilities, end of year
$1,412
Net assets or fund balances, end of year
$208,288
Program services expenses (Part IX)
$741,557
Management and general expenses
$59,989
Fundraising expenses
$13,715
Program service expenses (Part III)
$741,557

Program services were 91.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $883,033

  • 2a · Program service revenue: MANAGEMENT CONSULTING

    total $1,600 · related or exempt $1,600

  • 3 · Investment income

    total $141 · excluded $141

  • 10a · Gross sales of inventory

    $1,912

  • 10b · Cost of goods sold

    $398

  • 10c · Net income from sales of inventory

    total $1,514 · excluded $1,514

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,500 · program services $3,500

  • 2 · Grants to domestic individuals

    total $22,069 · program services $22,069

  • 5 · Compensation of officers, directors and key employees

    total $278,965 · program services $249,870 · management and general $18,589 · fundraising $10,506

  • 7 · Other salaries and wages

    total $42,834 · program services $40,083 · management and general $1,449 · fundraising $1,302

  • 9 · Other employee benefits

    total $16,991 · program services $15,232 · management and general $1,358 · fundraising $401

  • 10 · Payroll taxes

    total $29,177 · program services $26,173 · management and general $1,924 · fundraising $1,080

  • 11c · Fees: accounting

    total $2,680 · management and general $2,680

  • 11d · Fees: lobbying

    total $946 · program services $946

  • 11g · Fees: other

    total $118,347 · program services $116,189 · management and general $2,137 · fundraising $21

  • 12 · Advertising and promotion

    total $104 · program services $70 · fundraising $34

  • 13 · Office expenses

    total $45,930 · program services $19,612 · management and general $26,318

  • 14 · Information technology

    total $3,575 · program services $2,976 · management and general $583 · fundraising $16

  • 16 · Occupancy

    total $13,334 · program services $13,334

  • 17 · Travel

    total $91,243 · program services $91,140 · management and general $94 · fundraising $9

  • 19 · Conferences, conventions and meetings

    total $91,974 · program services $89,841 · management and general $2,005 · fundraising $128

  • 23 · Insurance

    total $7,022 · program services $6,180 · management and general $643 · fundraising $199

  • 24a · Other expenses: MIGRANT SUPPORT PROJECT

    total $27,339 · program services $27,339

  • 24b · Other expenses: LOBBY DAY AND HEARING S

    total $7,660 · program services $7,660

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $3,230 · program services $1,403 · management and general $1,808 · fundraising $19

  • 24e · All other expenses

    total $8,341 · program services $7,940 · management and general $401

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,020 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $142,389 · end of year $209,500

  • 4 · Accounts receivable

    beginning of year $200 · end of year $200

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,066 · end of year $1,412

  • 27 · Net assets without donor restrictions

    beginning of year $136,543 · end of year $207,763

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $525

Mission and programs · 2022

Mission

BELOVED COMMUNITY INCUBATOR (BCI) IS WORKER SELF-DIRECTED NON-PROFIT THAT SUPPORTS AND ORGANIZES RESOURCES FOR COMMUNITY-BASED COOPERATIVES AND COLLECTIVES IN THE DC METRO AREA. BCI PROVIDES HIGH-TOUCH INCUBATION SUPPORT - INCLUDING LEADERSHIP DEVELOPMENT, ECOSYSTEM AND RESOURCE ORGANIZING AND LEGAL, BOOKKEEPING AND ADMINISTRATIVE SUPPORT - FOR NEW COOPERATIVES THAT CREATE LIVING WAGE WORK AND THAT ARE LED BY POOR AND WORKING CLASS BLACK, BROWN, INDIGENOUS AND PEOPLE OF COLOR.

Activities or mission (Part I)

SUPPORT AND ORGANIZE RESOURCES FOR COMMUNITY-BASED COOPERATIVES AND COLLECTIVES IN DC METRO AREA

  • WE SUPPORT WORKERS TO CREATE AND MAINTAIN COLLECTIVELY OWNED BUSINESSES SO THAT WORKERS CAN CONTROL THEIR WORK, PAY THEMSELVES LIVING WAGES, BUILD A DEMOCRATIC PRACTICE OF STEWARDING RESOURCES TOGETHER AND ENGAGE IN THE WIDER DMV AREA MOVEMENT ECOSYSTEM THAT IS BUILDING ABOLITION AND DECOLONIZATION. WE PROVIDE HIGH-TOUCH INCUBATION SUPPORT - INCLUDING LEADERSHIP DEVELOPMENT, ECOSYSTEM AND RESOURCE ORGANIZING AND LEGAL, BOOKKEEPING AND ADMINISTRATIVE SUPPORT - FOR NEW COOPERATIVES THAT CREATE LIVING WAGE WORK AND THAT ARE LED BY POOR AND WORKING CLASS BLACK, BROWN, INDIGENOUS AND PEOPLE OF COLOR.BCI INCUBATES NEW COOPERATIVES AND COLLECTIVES, PROVIDING SUPPORT FOR WORKERS THROUGH THE ENTIRE PROCESS OF CREATING AND LAUNCHING THEIR BUSINESS OPERATIONS. AS AN INCUBATOR, WE PROVIDE PRE-LAUNCH SUPPORT, BUSINESS & LEADERSHIP DEVELOPMENT, GOVERNANCE AND CONFLICT RESOLUTION TRAININGS, AND LEGAL, BOOKKEEPING, AND ADMINISTRATIVE SUPPORT. OUR PRE-LAUNCH SUPPORT INCLUDES A MONTHLY STIPEND TO OFFSET THE COST OF PARTICIPATING IN TRAINING.

    Expenses $741,557 · Grants $25,569 · Revenue $1,600

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Francisco Benavides

    TREASURER/ADMINISTRATIVE COORDINATOR

    Total calculated
    $28,558
    From this org
    $28,558
    From related orgs
    $0
    Other
    $0
    Hours/week
    24

  • Bianca Vazquez

    CO-PRESIDENT/PROGRAM DIRECTOR

    Total calculated
    $68,665
    From this org
    $63,306
    From related orgs
    $0
    Other
    $5,359
    Hours/week
    40

  • Geoff Gilbert

    LEGAL AND TECHNICAL DIRECTOR

    Total calculated
    $72,799
    From this org
    $72,240
    From related orgs
    $0
    Other
    $559
    Hours/week
    40

  • Megan Felix Macaraeg

    CO-PRESIDENT/ORGANIZING DIRECTOR

    Total calculated
    $86,733
    From this org
    $72,240
    From related orgs
    $0
    Other
    $14,493
    Hours/week
    40

  • Meghan Sobocienski

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Celeste Smith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alana Eichner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Yannik Omictin

    PROGRAM DIRECTOR

    Total calculated
    $22,210
    From this org
    $22,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
6 October 2023
IRS schema version
2022v5.0
Source object
202332829349300743

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